RFG Advisory LLC Has $435,000 Stock Position in Ares Capital Co. (NASDAQ:ARCC)

RFG Advisory LLC increased its position in Ares Capital Co. (NASDAQ:ARCC) by 5.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 19,855 shares of the investment management company’s stock after buying an additional 969 shares during the period. RFG Advisory LLC’s holdings in Ares Capital were worth $435,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Van ECK Associates Corp increased its holdings in shares of Ares Capital by 8.3% during the third quarter. Van ECK Associates Corp now owns 12,656,154 shares of the investment management company’s stock valued at $272,107,000 after acquiring an additional 975,045 shares in the last quarter. Confluence Investment Management LLC grew its position in Ares Capital by 1.7% in the 3rd quarter. Confluence Investment Management LLC now owns 3,836,573 shares of the investment management company’s stock valued at $80,338,000 after purchasing an additional 63,999 shares during the period. International Assets Investment Management LLC increased its stake in Ares Capital by 2,104.7% during the 3rd quarter. International Assets Investment Management LLC now owns 3,613,285 shares of the investment management company’s stock valued at $756,620,000 after purchasing an additional 3,449,395 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in Ares Capital by 3.2% during the third quarter. JPMorgan Chase & Co. now owns 3,387,097 shares of the investment management company’s stock worth $70,926,000 after buying an additional 104,710 shares during the last quarter. Finally, Sound Income Strategies LLC raised its holdings in Ares Capital by 3.7% during the third quarter. Sound Income Strategies LLC now owns 2,217,277 shares of the investment management company’s stock worth $46,430,000 after buying an additional 79,074 shares during the last quarter. 27.38% of the stock is owned by institutional investors.

Ares Capital Stock Performance

Shares of Ares Capital stock opened at $23.30 on Tuesday. The business’s fifty day simple moving average is $22.15 and its 200 day simple moving average is $21.39. The company has a current ratio of 1.29, a quick ratio of 1.29 and a debt-to-equity ratio of 1.06. Ares Capital Co. has a 12 month low of $19.32 and a 12 month high of $23.53. The firm has a market capitalization of $15.05 billion, a P/E ratio of 8.96 and a beta of 1.00.

Ares Capital (NASDAQ:ARCC) last issued its quarterly earnings results on Wednesday, October 30th. The investment management company reported $0.58 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.01). Ares Capital had a return on equity of 12.06% and a net margin of 53.71%. The company had revenue of $755.00 million during the quarter, compared to analysts’ expectations of $770.45 million. During the same period last year, the firm posted $0.59 earnings per share. Ares Capital’s quarterly revenue was up 15.3% compared to the same quarter last year. As a group, analysts anticipate that Ares Capital Co. will post 2.36 EPS for the current year.

Ares Capital Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, December 30th. Stockholders of record on Friday, December 13th were paid a dividend of $0.48 per share. The ex-dividend date was Friday, December 13th. This represents a $1.92 annualized dividend and a dividend yield of 8.24%. Ares Capital’s payout ratio is currently 73.85%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the stock. B. Riley boosted their target price on shares of Ares Capital from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised Ares Capital from an “equal weight” rating to an “overweight” rating in a report on Thursday, December 12th. Finally, StockNews.com raised Ares Capital from a “sell” rating to a “hold” rating in a research note on Tuesday, November 12th. Three analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $22.29.

About Ares Capital

Ares Capital Corporation is a business development company specializing in acquisition, recapitalization, mezzanine debt, restructurings, rescue financing, and leveraged buyout transactions of middle market companies. It also makes growth capital and general refinancing. It prefers to make investments in companies engaged in the basic and growth manufacturing, business services, consumer products, health care products and services, and information technology service sectors.